Daily Pivots: (S1) 1.5404; (P) 1.5446; (R1) 1.5516; More…
Deeper fall could be seen in EUR/AUD to retest 1.5254/71 support zone. Firm break there will carry larger bearish implication and resume the fall from 1.5976. On the upside, above 1.5650 will resume the rebound to 1.5749 resistance.
In the bigger picture, it’s still early to confirm if rise from 1.4281 represents bullish trend reversal. But as long as 1.5271 support holds, such rally is in favor to continue. Break of 1.5976 will target 1.6434 key resistance next. On the other hand, firm break of 1.5271 will retain medium term bearishness instead.
